An Eye on Financial Results: PerkinElmer, Inc.’s (NYSE: PKI)

On 11 Dec 18, PerkinElmer, Inc.’s (NYSE: PKI) closed with gain/decline of 2.87% to $85.37. Recent traded volume was 641,845 shares versus to it an average volume of 688,542 shares. The company holds {59} million shares outstanding and market cap of 9.496B. The stock’s day range was recorded between a low of $84.30 and a high $86.05.

PerkinElmer, Inc. (PKI) recently stated financial results for the third quarter ended September 30, 2018.

The Company stated GAAP earnings per share from continuing operations of $0.68, as contrast to GAAP earnings per share from continuing operations of $0.87 in the third quarter of 2017. GAAP revenue for the quarter was $674.3M, as contrast to $554.3M in the third quarter of 2017. GAAP operating income from continuing operations for the quarter was $80.2M, as contrast to $78.0M in the third quarter of 2017. GAAP operating profit margin was 11.9% as a percentage of revenue.

Adjusted earnings per share from continuing operations for the quarter was $0.90, as contrast to $0.73 in the third quarter of 2017. Adjusted revenue for the quarter was $674.5M, as contrast to $554.5M in the third quarter of 2017. Adjusted operating income from continuing operations for the quarter was $128.6M, as contrast to $105.3M for the same period a year ago. Adjusted operating profit margin was 19.1% as a percentage of adjusted revenue.

Adjustments for the Company’s non-GAAP financial measures have been noted in the attached reconciliations.

“We were happy with the high-single digit organic revenue growth and greater than 20% adjusted EPS growth in the third quarter,” stated Robert Friel, chairman and chief executive officer of PerkinElmer. “This performance reinforces our belief that we have both the organization and the businesses to continue to raise our top-line growth rate and profitability.”

Financial Overview by Reporting Section for the Third Quarter of 2018

Discovery & Analytical Solutions

  • Revenue was $406.2M, as contrast to $385.4M for the third quarter of 2017. Stated revenue raised 5% and organic revenue raised 7%.
  • Operating income from continuing operations was $48.4M, as contrast to $47.3M for the comparable previous period.
  • Adjusted operating income was $68.0M, as contrast to $61.8M in the third quarter of 2017.

Diagnostics

  • Revenue was $268.1M, as contrast to $168.9M for the third quarter of 2017. Stated revenue raised 59% and organic revenue raised 8%.
  • Operating income from continuing operations was $47.4M, as contrast to $43.4M for the comparable previous period.
  • Adjusted operating income was $76.2M, as contrast to $56.0M in the third quarter of 2017.

Updates Financial Guidance – Full Year 2018

For the full year 2018, the Company before forecast GAAP earnings per share from continuing operations of $2.39 and, on a non-GAAP basis, adjusted earnings per share of $3.65. The Company now forecasts GAAP earnings per share from continuing operations of $2.37, and on a non-GAAP basis, which is predictable to include the adjustments noted in the attached reconciliation, adjusted earnings per share of $3.60.

The short ratio in the company’s stock is documented at 5.42 and the short float is around of 3.39%. The average true range of the stock is observed at 2.74 and the relative strength index of the stock is recorded at 52.33.

Leave a Reply

Your email address will not be published. Required fields are marked *